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6/21/2012 9:18AM

U.S. Futures Rise Slightly as Jobless Claims Slip

U.S. stock futures erased earlier losses to trade just above the flat line ahead of a heavy dose of economic data, including U.S. jobless claims. Chris Dieterich has details on The News Hub. Photo: Reuters.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... futures ... are flat as the watchword the day ... but the futures and in Europe we have weekly jobless claims fell slightly but the prior week was revised up so continued ... so the ... not a great picture and the jobs market tell me a little bit about Europe ... of course we had a Spanish bond auction today ... yet this did did he go ... anything they can sell their bonds but it was ... pretty expensive to do so that's right and so was the first auction since they announced that they might seek a bailout baby really get off more bonds that they can they expected to be paid a ... heavy premium ... however I think this is the catch people up being the pain ... oh man on the onthe five-year bonds that they they sold I guess the pain sixteen and ... six point ... seven percent ... and what is that mean well in May ... they're paying five percent to just a month ... that's always uses this isn't a significant rise if you look at the ten year Spanish bond ... yields are coming down the down for the third in a row the sinister in Italy so it can summon we have become a mixed picture was not great news in Spain ... the markets are considerably comb on the calmer and across Europe than they were humbly last week and it's because I guess ultimately what people are worried that is if ... you get ... economic attraction in Spain coupled with Bryson borrowing costs ... Spain may have turned to others in EU Germany especially for ... some a lot of some kind that's exactly right so all eyes you know continue to be on Europe but after Greeks Greece was able to come together a government there's the sense that the euro zone isn't immediately can rupture and so it sort of thing to be the straw now ... aam process and then you know that to continue watch the economic signposts speaking of ... an economic contraction China weighing on Asian markets we had ... manufacturing number that was all the Kremen expected which is seen to be weighing on futures ... earlier in the session but not so much anymore ... but the Fed some people were not ... in the open we get the train crash back just been great but so slow ripening and we had when markets rally for about three weeks sort of on this vague hope that were to get something will but more QE three QE three another online program can be had ... there was was presented operating to Operation Twist ... its rates on it but do I think it met expectations and and ... for some and so was sort of a flat reaction I think it surprised some that the reaction was so flat that we've had some so much the marker really headed into ... yesterday's compound announcements that ... then there is so new that we get we get nothing and so now it's it's really kinda cute stocks even hold less without the fat anymore and it is the ... better buyer of last resort in in Washington it's kind of ... I know I'm a lot of faith in America cattle well beyond into it ... there's there's one thing that pops up our markets is the answer I mean you talk to talk to traders that adequate the liquidity that the feds can injecting for for years to hero and I mean this is it's it's it's it's ... I think the the lotto worries that the that the markets will be a will but without not only U S central bank action but action across ... Europe and China we had China's central bank action early this month so we we have we definitely have ... aam one of the main ... supports of the markets of absolute in central bank action and so will see what what goes on we head into earnings season ... aam you know